Ethereum prices might be solid, and bulls are looking to drive the coin toward $1,700, but on-chain data points to dropping activity from developers judging from the number of new smart contracts deployed in the first three weeks of January.
Number Of Smart Contracts Deployed On Ethereum Falling
The number of new smart contracts deployed over the past few weeks, since the beginning of 2023, has fallen by more than half. The number of new smart contracts deployed on January 1, 2023, stood at 139,699.
However, a total of 56,370 smart contracts were deployed on Ethereum on January 23, a solid recovery from the 10,079 figure registered on January 14, but still a long way from its January 1 levels.
The contraction over the past